Trump Remarks Drive Gold Above $4,700

Spot gold reached $4,718.75, marking a two-week high. The precious metal experienced a significant increase, with spot gold jumping 1.1 percent to $4,718.75 an ounce.

Concurrently, U.S. gold futures for June delivery rose 1.4 percent, settling at $4,745.60. This upward movement in gold coincided with a weakening U.S. dollar and a dip in bond yields, reflecting a broader market reaction to reduced geopolitical risk.

RTTNews reported that the easing of Middle East tensions, specifically hints that Trump is considering ending the Gulf War and reports of a U.S. withdrawal from Iran, directly contributed to gold's appeal as a safe-haven asset diminished. The market interprets these developments as a positive shift towards stability in the region.